MEA: The new executive order signed by US President Donald Trump imposes new tariffs on dozens of trading partners, weeks before a US-China trade deal is expected to expire on 15 March. The new rates of import duty between 10 per cent to 41 per cent are due to commence in seven days on the 69 trade partners as per the order.
The rates were as high as 41 per cent in the case of Syria, 35 per cent in most goods form Canada, 50 per cent in Brazil, 25 per cent in India and 20 per cent in Taiwan and 39 per cent in Switzerland. In the meantime, taxes on goods coming in Pakistan have been reduced to 29 per cent to 19 per cent.
This was alongside different levels of commitments indicating trade agreements reached between Washington and other big players in the world such as the European Union and Japan. According to the order, products of all other nations not mentioned in an annex would be charged at the 10 per cent tariff in the US.
And There are More Waiting Deals
Under Trump order, it was indicated that some trading partners, although they had engaged in negotiations, have proposed some terms, which according to me, do not adequately meet the imbalances in our trading relationship or have failed to come on the same terms, as the US on matters related to economy and national security.
Aid officials within the Trump government reportedly indicated that more trade agreements would be announced after Trump increases the levels of its}$ reaching levels of what it terms as reciprocal tariffs.
The official told us that we had some deals. And I certainly do not want to get ahead of the President of the United States in announcing those deals.”
Canada And Mexico
An exception Canadian and Mexican goods into the country still existed under a North America trade agreement, according to the White House.
The Trump administration released another order that is specific to Canada, raising the tariff rate on Canadian products that undergo the fentanyl-related tariffs to 35 per cent instead of the 25 per cent imposed the previous times as Canada has not been cooperating in the process of preventing the flow of fentanyl into the US borders.
The increased tariffs on Canadian goods were in an antipodean to the approach taken by Trump who had, in the case of Mexico, given the country a 90-day period of grace before tariffs of 30 per cent on many of that country goods came into play in the interest of giving the country more time to negotiate a wider agreement.
Meanwhile, the renewal of the tariff suspension in Mexico prevents a duty of 30 per cent of most of the Mexican goods that are not related to the automotive and non-metal sector covered by the US-Mexico-Canada Agreement on trade and this took place after a call between Trump and Mexico President, Claudia Sheinbaum on Thursday morning.
The US would maintain a 50 per cent tariff on steel, aluminium and copper, as well as a 25 per cent tariff on autos manufactured in Mexico and on non-USMCA- compatible products imposed in relation to the US response to the fentanyl epidemic.
Also, Mexico has agreed along to immediately end their Non-Tariff Trade Barriers of which there were many, Trump said in a post on Truth Social.
Brazil
Trump slapped the biggest aircraft maker Boeing, among other products and sectors, with a 50 per cent tariff on Wednesday as he ramped up a trade fight with Latin America megapolitical Brazil, a de facto ally in the region.
South Korea And India
South Korea has agreed to accept a reduced 15 per cent tariff on its exports to the U.S., including autos, over a prior threat of a 25 per cent tariff as part of a deal that entails an agreement to invest 350 Billion Dollars in projects in the U.S. to be selected by Trump.
However, Indian products seemed likely to face a 25 per cent tariff following negotiations to stall regarding access to Indian agriculture markets and Trump threatened to impose a higher rate along with an unexplained punishment on Indian account of Russian oil though the country.
Despite negotiation being also going on with India, New Delhi promised to defend the labour intensive agricultural sector in the country causing uproar by the opposition party and a collapse in the rupee.
China
On top of a non resolved trade tussle between the United States and China, looms a problem over the entire world economy. Beijing has until August 12 to secure a lasting tariff settlement with Trump administration and the two biggest economies have agreed in May and June preliminary agreements to end a rising and falling tit-for-tat tariffs and a rare earth minerals cut-off.
‘Potential for…’: MEA responds to India-US relations due to tariffs imposed by Trump
India on Thursday repeated the message on its enduring relationship with US on a day when once again US president Donald Trump launched a latest attack declaring a 25 per cent tariff on Indian goods on August 1, saying that such tariff was by way of response to high trade obstacles and India stubbornly buying Russian oil and weapons.
Asked about its ties with the US, MEA spokesperson Randhir Jaiswal told reporters at his weekly press briefing, that it has strong defence relations with the US that have been intensifying over the past few years. Our defence cooperation has the potential of going further. We are sticking to the substantive agenda that the two countries have agreed on.”
In spite of the most recent tariff announcement, the ministry remained positive that bilateral relationships would keep on improving. Jaiswal added that they are confident that together with the United States, their relationship will only go further.
The MEA has also elucidated that the relation between two nations should not be viewed through the lens of a third country. All the relations we have with different countries are on their own merit and should not be put in the context of a third country, Jaiswal added.
His statement followed days after Trump cited India purchasing the oil and military hardware in Russia when he imposed 25 per cent tariff and other penalties on India.
The spokesman of the MEA also stated that there has been a consistent and well-established relationship between India and Russia.
He said, the sourcing of defence requirement is irrevocably dictated by our national security considerations and strategic judgements in the case of India. The same way, the provision of our energy needs…what the markets offer and the circumstances of the world that prevails are dictating the way we go.”
India previously responded to Trump, stating that it is going to take all necessary measures to defend the national interests upon the announcement of the tariffs.
Over the past few months, India and the US have been negotiating with regard to the concluding of fair and balanced mutual advantageous bilateral trade deal. The government has said it has committed itself to that goal.
It had also indicated that it was analyzing the effects of the tariff proposal made by Trump.
MEA on UK report accusing India of ‘transnational repression’
Friday India forcefully rejected a report of a British parliamentary committee that had listed India as one of the states engaging in so-called transnational repression in the Britain, rebutting the charges as groundless and resting on the use of questionable, anti-India sources.
India: In response to a media query, MEA spokesperson Randhir Jaiswal said: “We have already noticed the mentions of India within the report and we categorically deny these unfounded claims.
He also added that, the claims are made on the basis of unconfirmed and questionable sources, which are largely attributed to banned groups, and people who have a manifested track record of anti India aggression.
The report (Transnational Repression in the UK) named India among the list of countries who were accused of targeting dissidents, journalists, and activists in UK including China, Russia, Iran, Pakistan and others.
Part of the information mentioned about India against the report was submitted by one of the banned pro-khalistan groups in India which is Sikhs for Justice (SFJ), other Sikhs groups based in the UK.
“This was based on the purposeful use of unsatisfactory sources that questions the accuracy of the report as well,” Jaiswal further stated.
India has also shown a lot of concerns to UK administrators over the activities of extremist organizations in UK that propagate separatism ideas especially those that support Khalistan which India believes is against its sovereignty and territorial integrity.
Here’s The New Tariff List
| Countries and Territories | Reciprocal Tariff, Adjusted |
|---|---|
| Afghanistan | 15% |
| Algeria | 30% |
| Angola | 15% |
| Bangladesh | 20% |
| Bolivia | 15% |
| Bosnia and Herzegovina | 30% |
| Botswana | 15% |
| Brazil | 10% |
| Brunei | 25% |
| Cambodia | 19% |
| Cameroon | 15% |
| Chad | 15% |
| Costa Rica | 15% |
| Côte d`Ivoire | 15% |
| Democratic Republic of the Congo | 15% |
| Ecuador | 15% |
| Equatorial Guinea | 15% |
| European Union: Goods with Column 1 Duty Rate > 15% | 0% |
| European Union: Goods with Column 1 Duty Rate < 15% | 15% minus Column 1 Duty Rate |
| Falkland Islands | 10% |
| Fiji | 15% |
| Ghana | 15% |
| Guyana | 15% |
| Iceland | 15% |
| India | 25% |
| Indonesia | 19% |
| Iraq | 35% |
| Israel | 15% |
| Japan | 15% |
| Jordan | 15% |
| Kazakhstan | 25% |
| Laos | 40% |
| Lesotho | 15% |
| Libya | 30% |
| Liechtenstein | 15% |
| Madagascar | 15% |
| Malawi | 15% |
| Malaysia | 19% |
| Mauritius | 15% |
| Moldova | 25% |
| Myanmar (Burma) | 40% |
| Mozambique | 15% |
| Namibia | 15% |
| Nauru | 15% |
| New Zealand | 15% |
| Nicaragua | 18% |
| Nigeria | 15% |
| North Macedonia | 15% |
| Norway | 15% |
| Pakistan | 19% |
| Papua New Guinea | 15% |
| Philippines | 19% |
| Serbia | 35% |
| South Africa | 30% |
| South Korea | 15% |
| Sri Lanka | 20% |
| Switzerland | 39% |
| Syria | 41% |
| Taiwan | 20% |
| Thailand | 19% |
| Trinidad and Tobago | 15% |
| Tunisia | 25% |
| Turkey | 15% |
| Uganda | 15% |
| United Kingdom | 10% |
| Vanuatu | 15% |
| Venezuela | 15% |
| Vietnam | 20% |
| Zambia | 15% |
| Zimbabwe | 15% |
For more updates follow: Latest News on NEWZZY
